MELBOURNE, May 7 (Reuters) - Shanghai zinc climbed off nine
month lows to rally 1 percent on Monday, as consumers bought
into the metal that has been in a shortage for much of the past
    * ZINC: Shanghai Futures Exchange zinc rose 1
percent, having hit its weakest since last August in the session
before at 23,145 yuan ($3,639.78) a tonne amid concerns over
steel demand in light of tariffs imposed by the United States.
Prices may come under pressure later in the session, with Shfe
rebar down 1.2 percent.   
    * COPPER: Shfe copper edged down 0.2 percent after
weekly China exchange stocks surged by nearly 15,000 tonnes or 6
percent on Friday.  
    * LME HOLIDAY: The London Metal Exchange was closed on
Monday for a bank holiday weekend. 
    * CHINA ECONOMY: A flurry of Chinese data in coming weeks is
expected to show the world's second-largest economy remained
strong in April, underpinned by a pick-up in industrial output
and a rebound in exports despite rising trade tensions with the
United States.
    * CHINA TRADE: Chinese state media struck an optimistic note
on trade talks between Chinese and U.S. officials after U.S.
President Donald Trump threatened to impose tariffs on up to
$150 billion in Chinese goods over allegations of intellectual
property theft.
    * PREMIUMS: Shanghai zinc premiums climbed by $12.50, while
Shfe lead premiums rose by $10, signalling physical buyers had
stepped in on the price drop. <0#BASEBW-SHMET> 
    * ALUMINIUM: Aluminium producer Alcoa Corp said on
Friday that management at its Quebec smelter had notified the
provincial labor ministry it is ready to resume mediated
contract talks with the United Steelworkers union.
    * SPECULATORS: Hedge funds and money managers trimmed their
net long positions in COMEX gold and copper contracts in the
week to May 1, U.S. Commodity Futures Trading Commission data
showed on Friday.
    * DRC: The government of the Democratic Republic of Congo
has made no substantial concessions to major miners demanding
changes to a new mining code they say will discourage
investment, according to a draft document seen by Reuters on
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